Georgia Condo Insurance

Georgia condo insurance is a must have for all residents of this state. The beautiful coastline and the equally beautiful historic towns make condominium living a great alternative to the single family dwelling. If you want to enjoy the carefree lifestyle of living in a low maintenance community, condo living is just for you. Make sure the first thing you do, when purchasing a unit in GA, is find quotes for cheap condo insurance.

Condo Association Insurance

One of the great benefits of living in a Georgia condominium is the reduced stress of maintaining a building and yard. Most condo associations offer maintenance as part of their HOA or condominium association fees. Along with this, the association should also have a condo master policy in Georgia. This is the policy coverage that takes care of the building, common areas, and property damage after a storm or other hazard.

There are different types of master policies and you need to make sure you understand what is covered and what is not covered. Anything not covered by the master policy will need to be taken care of with your Georgia condo insurance. For example, most condo master policies cover the outside structure of the building. It should also cover the lobby, garages and carports, outside patios and decks that are available to everyone. In Georgia the pool areas, recreational areas, workout rooms and community centers will be covered also.

You, on the other hand, are responsible for your own unit. In the event a fire or other hazard occurs you will be responsible for replacing the appliances, electronics, clothing, and other essentials for day to day living with your own hazard insurance. Make sure you have excellent Georgia condo insurance and when disaster strikes you will feel confident in knowing your possessions are protected. Unlike house insurance, your personal policy should only cover the contents of your unit, not the entire building.

Actual Cash Value versus Replacement Cost Policies

Once you have determined what the master policy covers, you will need to decide what type of coverage you need for your Georgia condominium. There are two basic kinds of coverage. The first is an actual cash value policy. This policy will cover the contents of your GA condominium with the actual value of the items. You need to remember that items depreciate with time and use. Although your micro suede couch and wagon wheel table may be your most valuable possessions, the insurance company will take into account the age and condition of these items when deciding on value. In Georgia it is going to cost more to replace the items you lost than their actual value. The benefit of this type of policy is that the rate and premium are usually lower.

The second type of Georgia condo insurance is a replacement cost policy. This type of policy covers your contents at the replacement value. When a fire or flood occurs you do not want to change your lifestyle and live without certain necessities of life. Replacing the items will be quick and easy and your life will be back to normal in a short amount of time. With this type of coverage you will be able to file a claim for the amount of money you need to replace the items needed to live comfortably.

You may also need personal liability coverage as part of your Georgia condo insurance policy. This type of coverage takes care of medical or legal expenses if someone is injured while visiting. If you love to entertain and have parties, you will want to make sure you carry adequate personal liability coverage to keep you and your guests protected.

Condominium Insurance After a Hurricane

Georgia is known for its beautiful golf courses, wonderful beaches and amazing historical cities. Many people choose to live in a condominium to enjoy this low stress lifestyle. Although natural disasters sometimes happen you can protect yourself and your home. Similar to renters insurance, your policy will cover the contents of your unit. You want to make sure you have excellent Georgia condo insurance to give yourself peace of mind in situations like this.

After a hurricane you will need to go through your itemized list of property and account for the items lost in the storm. Next you will want to contact your Georgia condo insurance agent. This person should be able to help relieve the anxiety associated with disasters like this. Knowing you have excellent Georgia condo insurance should give you the peace of mind you need to move forward and continue living your current lifestyle.

Living the dream is easy with Georgia condo insurance protecting your family and your possessions. It is easy to find multiple quotes online to find the best rate possible.

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